Forgery or Alteration Insurance

Coverage designed to protect from loss sustained through forgery or alteration of outgoing negotiable instruments made or drawn by or on the accounts of the Insured, or made or drawn by one acting as the Insured’s agent. This includes loss caused by (1) checks or drafts made or drawn in the Insured’s name, payable to a fictitious entity, (2) checks or drafts, including payroll checks, executed through forged endorsements, and (3) alteration of the amount of a check or draft.